Things to Think About Before Moving to A New Country or Making Foreign Investments

- What is required to become a legal resident? Can I meet these requirements? What is the cost? How often does residency have to be renewed, what are the conditions of renewal and what is the cost?
- What is required to visit, or stay while I’m waiting for residency?
- What is the political situation? How stable is the country?
- Weather — Will I like the weather year-round?
- Income taxes — Will I be taxed on income brought into the country? — Am I allowed to earn income in the country? If yes, how is it taxed?
- Other taxes — Sales tax, import duties, exit taxes, vehicle taxes, etc.
- How much will it cost in fees, duties and import taxes to bring my personal possessions into the country— cars, boats, appliances, electronic equipment, etc.?
- Rental property — How much? Availability?
- Purchase property — property taxes, restrictions on foreign ownership of property, expropriation laws, building regulations, squatters rights, etc. Is there a capital gains tax?
- Communications — Are there reliable phone and fax lines, cellular phones, beepers, connections to Internet and other computer communication services? Is there good mail service between the country and the rest of the world? Are there private express mail services such as DHL, UPS and FedEx? Are there local newspapers, radio and TV in a language I will understand? Is cable or satellite TV available?
- Transportation — How are the roads? Are flights available to places I will want to go? How are the buses and taxis ? How costly is it to travel to and from other international destinations?
- Is it difficult for friends and family to visit?
- Shopping — Are replacement parts available for the items I have brought from home? If so, what are the costs? If not, how much will it cost to import what I need?
- Are the types of food to which I am accustomed readily available in both markets and restaurants?
- If I have hobbies, are clubs, supplies and assistance available?
- What cultural activities are available — (art, music, theater, museums, etc.)?
- What entertainment is available— (sports, movies, nightclubs, dancing, etc.)?
- What recreational facilities are available? (golf courses, tennis, health clubs, recreational centers, parks, etc.)?
- If I like the beach, are good beaches available? Can they be reached easily? What is the year round temperature of the water?
- What is the violent crime rate? Minor crime (theft, car and house break-ins)? What support can be expected from the police? Are the police helpful to foreign residents?
- How do local residents treat foreign visitors and residents?
- What are the local investment opportunities like? Is there any consumer or protective legislation for investors? What return can I expect from my investments?
- Is the banking system safe and reliable? Can banks transfer funds and convert foreign currency, checks, drafts, and transfers? Are checking, savings and other accounts available to foreigners? Is there banking confidentiality? Is there a favorable rate of exchange with the U.S. dollar?
- Are good lawyers, accountants, investment advisors and other professionals available?
- How difficult is it to start a business? What kinds of opportunities are there?
- How is the health care system? Is it affordable? Do they honor U.S. and Canadian health insurance? Are there any dangerous diseases, and if so, does the local health care system address the problem? What is the quality of hospitals, clinics, doctors and dentists? What is the availability of good specialists?
- How is the sanitation? Can I drink the water? Do the restaurants have good sanitation standards? Are pasteurized milk and other dairy products available? Do meat, fish and vegetable markets have satisfactory sanitary standards?
- If I am interested in domestic staff, what is the cost of cooks, housekeepers and gardeners, etc.? Is the local help reliable? What regulations are involved in hiring employees? What are employers’ responsibilities to workers?
- What legislation is there to protect foreign residents? What rights do foreign residents have in comparison to citizens?
- What natural disasters are there — hurricanes, tornadoes, typhoons, earthquakes, droughts, floods?
- Can pets be brought into the country?
- Is there religious freedom?
*Courtesy of the Association of Residents of Costa Rica




